New Delhi: RBI can take big steps to save YES BANK and maintain customer confidence. According to the information, RBI can give 8 to 10 thousand crore rupees to YES BANK as urgent financial support. According to sources, YES BANK can give this amount in the form of debt under RBI Section 17 to overcome the cash crisis. Interest on this amount can be charged less than the prevailing rate so that the bank is not burdened.
Meanwhile, a step on the Revival Plan of RBI for YES BANK, today SBI made its action plan public. Bank chairman Rajnish Kumar held the press conference and assured the depositors of Yes Bank that their money was safe. SBI will join Yes Bank as an investor and will also include others. He informed that the Tier One Bond of the bank will be written off. SBI will invest from Rs 2450 crore to Rs 10,000 crore in YES BANK. SBI will submit its action plan to RBI on Monday. Co-investors can also be made with SBI. TIER ONE bonds of YES BANK will be written off.
